Gold crosses ₹95,000 for the first time to hit a new record high as dollar weakens and trade war persists
By : Sandhya
On Wednesday, April 16, gold reached a fresh high of ₹95,435 per 10 grams on the Multi Commodity Exchange (MCX), in response to the ongoing uncertainty surrounding US President Donald Trump's trade war and a declining dollar. It crossed the ₹95,000 threshold for the first time, gaining 2.12% from the previous close of ₹93,451.
By 2:45 pm, the yellow metal was trading at ₹95,090, having lost some of its gains. At the same time, today's low was 94,311. Silver, on the other hand, increased by 2.31% to reach a high of ₹96,965 per kg. It had earlier fallen as low as 94,666 and was now down to 96,500 as of 2:45 pm.
According to data from Bloomberg's Dollar Index Spot, the US dollar's 0.65% decline was one of the factors that led to this. Gold has long been seen as a safe-haven investment, particularly in difficult economic and geopolitical times.